CHICAGO | Highrise Projects & Construction, v7

[IrishIllini]

4 floors and 25,000 sq. ft. of space? Nutty.

[marothisu]

Originally Posted by IrishIllini

4 floors and 25,000 sq. ft. of space? Nutty.

Look at it this way - that would cost probably closer to $250M for the same space in NYC at a new premier luxury building. The One57 penthouse for $100M was only 11,000 sq ft.

[the urban politician]

Originally Posted by marothisu

Look at it this way - that would cost probably closer to $250M for the same space in NYC at a new premier luxury building. The One57 penthouse for $100M was only 11,000 sq ft.

Spot on. But I do hope this is the beginning of a new era of mega-luxury pied-a-terres in Chicago.

Perhaps not all a bunch of $58 million complexes, but more in the $10-20 million range perhaps?

The developer of No.9 Walton, who is also building One Chicago square, must be salivating at this possibility.

[marothisu]

Originally Posted by the urban politician

Spot on. But I do hope this is the beginning of a new era of mega-luxury pied-a-terres in Chicago.

Perhaps not all a bunch of $58 million complexes, but more in the $10-20 million range perhaps?

The developer of No.9 Walton, who is also building One Chicago square, must be salivating at this possibility.

It will be interesting if this "gets out" to other rich people who can say "Crap - I can get 4 floors of a new luxury penthouse for *only* $58.5M?" Maybe $250M to them doesn't matter, but it's just a thought. I think it would only work on people who are rich but not super rich though who want a nice place but not spend a HUGE amount. After I told my coworker about this sale, he looked up places in my neighborhood (his former neighborhood) in Manhattan - $24M for a 4000 sq ft penthouse at a premier building a few blocks south of me... So if you want a nice place and Chicago is OK with you, but can't afford around $25M - well that same thing is under $5M in Chicago.

[the urban politician]

The builders of Vista Tower and One Bennett Park must be eyeing this piece of news with a lot of interest...

[Fvn]

Originally Posted by the urban politician

The builders of Vista Tower and One Bennett Park must be eyeing this piece of news with a lot of interest...

Imagine Vista getting pushed up to 100 (or past) floors because of some other billionaire who wanted a multi story penthouse

I doubt it though

[BVictor1]

http://www.chicagobusiness.com/realestat...ers-proposes-343-apartments-in-west-loop

January 10, 2018
More high-rises on the highway planned in West Loop

By ALBY GALLUN

It may not be as trendy as the booming Fulton Market District, but the south end of the West Loop is attracting plenty of attention from apartment developers.

In the latest proposal for the area, Chicago developer Tandem Partners wants to build two towers with 343 apartments on the north side of the Eisenhower Expressway. One, at 1050 W. Van Buren St., would rise 21 stories, while the other, at 1125 W. Van Buren, would top out at 15, according to documents Tandem provided to Neighbors of West Loop, a community group.

With good transportation links and proximity to the University of Illinois at Chicago and Rush University Medical Center across the highway—not to mention downtown and Fulton Market's restaurants and bars—the neighborhood offers a strong base of demand for housing.

A rendering of an apartment tower proposed for 1050 W. Van Buren

[Freefall]

Originally Posted by harryc

Jan 5

From left border to right - Exhibit (635 N Wells), 640 N Wells, Marlowe (675 N Wells, Flatts (676 N LaSalle), Exhibit on Superior (HoJos), and the Odfrey

The 'G' on the Godfrey fell off??

[harryc]

Originally Posted by Freefall

The 'G' on the Godfrey fell off??

Re-branding to a more secular image ;-)

[jsbrook]

Any updates on this or is it DOA?

https://chicago.curbed.com/2016/10/11/13247270/riverline-chicago-beech-tower-timber-skyscraper

Cool plan and design.

[ithakas]

Originally Posted by jsbrook

Any updates on this or is it DOA?

https://chicago.curbed.com/2016/10/11/13247270/riverline-chicago-beech-tower-timber-skyscraper

Cool plan and design.

I think this was always speculative-ish.

[Steely Dan]

Originally Posted by jsbrook

Any updates on this or is it DOA?

https://chicago.curbed.com/2016/10/11/13247270/riverline-chicago-beech-tower-timber-skyscraper

i think that was just an architectural vision from P+W, not an actual development project.

[jsbrook]

Originally Posted by Steely Dan

i think that was just an architectural vision from P+W, not an actual development project.

Ah, too bad.

[IrishIllini]

Originally Posted by marothisu

Look at it this way - that would cost probably closer to $250M for the same space in NYC at a new premier luxury building. The One57 penthouse for $100M was only 11,000 sq ft.

It's definitely a great price, haha. I was just commenting on the size of the home. 25,000 sq. ft. for a residence is absolutely massive, lol. Even 1/4 that would be a very spacious home. I wonder if there will be a lot of double (or triple) height spaces. Exciting news nonetheless!

[left of center]

Originally Posted by BVictor1

http://www.chicagobusiness.com/realestat...ers-proposes-343-apartments-in-west-loop

January 10, 2018
More high-rises on the highway planned in West Loop

By ALBY GALLUN




A rendering of an apartment tower proposed for 1050 W. Van Buren

Awesome! Its exciting to see the Ike getting framed in like the Kennedy, albeit to a lesser degree.

Both the proposed sites are currently occupied by less than desirable existing buildings (An auto body shop with a parking lot, and a single story auto body/car wash).

Hopefully these two get off the ground, as well as the "Harry Potter" tower to the west of Landmark West Loop. Seems like rental companies are just getting battered with all the new apartments hitting the market. I see lots of offers and deals like month and a half free, etc in order to entice renters. Hopefully there's enough demand to soak up all the supply...

[IrishIllini]

Originally Posted by left of center

Awesome! Its exciting to see the Ike getting framed in like the Kennedy, albeit to a lesser degree.

Both the proposed sites are currently occupied by less than desirable existing buildings (An auto body shop with a parking lot, and a single story auto body/car wash).

Hopefully these two get off the ground, as well as the "Harry Potter" tower to the west of Landmark West Loop. Seems like rental companies are just getting battered with all the new apartments hitting the market. I see lots of offers and deals like month and a half free, etc in order to entice renters. Hopefully there's enough demand to soak up all the supply...

I may be mistaken, but I believe the W. Loop was growing by something like 6% per year. I think concessions are mostly a symptom of the time of year. Not many people plan to move in Chicago between November and March. Leasing season really takes a dive after August/September. The number of units delivered is quite high for a part of the city that has really never had many residential buildings though.

[Fvn]

The Van Buren


https://www.instagram.com/p/BdyXtGejg3W/?taken-by=the_van_buren

[Fvn]

Looks like 1201 e 60th street and 61 e banks both got their tower crane permits... I had completely forgotten about 1201 e 60th street until i saw it had its tc permit

[marothisu]

Originally Posted by Fvn

Looks like 1201 e 60th street and 61 e banks both got their tower crane permits... I had completely forgotten about 1201 e 60th street until i saw it had its tc permit

60th and Woodlawn is great. Hope it turns out well.


Source:
https://chicago.curbed.com/2017/5/11/156...architecture-new-design-rubenstein-forum

[LouisVanDerWright]

Originally Posted by harryc

1 (sign) down - 2 to go (May 2012)

Is Rozak the garage and lot slaying messiah that has been prophesied??!?

Seriously, dude has a type.